Abans Holdings IPO: Subscription opens today

12 Dec 2022 , 08:52 AM

The initial public offer (IPO) of Abans Holding Limited, a financial arm of Abans Group is open for subscription from December 12 to December 15. The company has fixed the IPO price band at Rs 256-270 per share. Investors can bid for 55 equity shares and its multiples in a lot.

The company aims to Rs 345.60 crore out of which Rs 243 crore are an offer for sale by promoter Abhishek Bansal. The net proceeds from the IPO are going to be used by Abans Holdings for investing in its Non-Banking Financial Company (NBFC) subsidiary Abans Finance. The funds will also be utilised for augmenting the company’s capital base in order to meet future capital requirements and general corporate purposes.

The company has reserved 10% of the offer size for qualified institutional buyers, 30% for high networth individuals and the remaining 60% for retail investors.

Aryaman Financial Services is the BRLM of the issue while Bigshare Services is the registrar. The shares of the company are expected to list on BSE and NSE on December 23.

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